#14 Dallas Stars

#14 Dallas Stars

Enterprise value of team based on current arena deal (unless new arena is pending).

$525MCalculated December 2018

Owner(s)

Tom Gaglardi

Championships

1

Year Purchased

2011

Price Paid

$240M

Revenue

2

Net of arena revenues used for debt payments.

$144M

Operating Income

3

Earnings before interest, taxes, depreciation and amortization.

$14M

Debt/Value

4

Includes arena debts.

26%

Player Expenses

5

Includes benefits and bonuses.

$79M

Gate Receipts

6

Includes club seats.

$37M

Wins-to-player cost ratio

7

Compares the number of wins per player payroll relative to the rest of the NHL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2017-18 season.

86

Revenue per Fan

8

Local revenues divided by metro population with populations in two-team markets divided in half.

Revenue and operating income are for 2017-18 season and net of revenue sharing and arena debt service. All figures are in U.S. dollars.

Footnotes

Revenue and operating income are for 2017-18 season and net of revenue sharing and arena debt service. All figures are in U.S. dollars.

1. Enterprise value of team based on current arena deal (unless new arena is pending).

2. Net of arena revenues used for debt payments.

3. Earnings before interest, taxes, depreciation and amortization.

4. Includes arena debts.

5. Includes benefits and bonuses.

6. Includes club seats.

7. Compares the number of wins per player payroll relative to the rest of the NHL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2017-18 season.

8. Local revenues divided by metro population with populations in two-team markets divided in half.

After missing the playoffs for the second consecutive season, it was all about making sure the team locked up its most talented players and had the right coach. In September, the Stars signed center Tyler Seguin to an eight-year extension with an average annual value of $9.85 million. Forward Jamie Benn had been the highest-paid player, with a deal worth $9.5 million annually on average. "With Jamie Benn and Tyler Seguin, I think our franchise is in a good spot over the next eight or nine years," said GM Jim Nill. In March,

Jim Montgomery was announced as the 23rd coach in franchise history. He replaced Ken Hitchcock, who retired after just one season at the helm. A bright spot for the Stars last season was an 88% increase in it average rating on Fox Sports Sourthwest, to 0.71. Although the team's television audience is still relatively small, the year-over-year gain was the second-biggest gain in the NHL.

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Numbers

Valuation Breakdown

9. Portion of franchise's value attributable to revenue shared among all teams.

10. Portion of franchise's value attributable to its city and market size.

11. Portion of franchise's value attributable to its arena.

12. Portion of franchise's value attributable to its brand.

Value Change

2%

1-YEAR CHANGE

12%

ANNUALIZED CHANGE

13

Current team value compared with latest transaction price.

13. Current team value compared with latest transaction price.

Historical

2018

Value1

Enterprise value of team based on current arena deal (unless new arena is pending).

$525M

2018

$525M

2017

$515M

2016

$500M

2015

$450M

2014

$420M

2013

$333M

2012

$240M

2011

$230M

2010

$227M

2009

$246M

Revenue2

Net of arena revenues used for debt payments.

$144M

2018

$144M

2017

$140M

2016

$144M

2015

$132M

2014

$113M

2013

$79M

2012

$100M

2011

$90M

2010

$95M

2009

$97M

Operating Income3

Earnings before interest, taxes, depreciation and amortization.

$14M

2018

$14M

2017

$21M

2016

$20.9M

2015

$17.5M

2014

$3.5M

2013

$1.6M

2012

$3M

2011

-$1.4M

2010

$6.4M

2009

$12.4M

Player Expenses5

Includes benefits and bonuses.

$79M

2018

$79M

2017

$69M

2016

$71M

2015

$68M

2014

$62M

2013

$37M

2012

$54M

2011

$49M

2010

$46M

2009

$53M

Win-to-Player Cost Ratio7

Compares the number of wins per player payroll relative to the rest of the NHL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2017-18 season.

86

2018

86

2017

84

2016

134

2015

91

2014

99

2013

82

2012

100

2011

110

2010

98

2009

78

1. Enterprise value of team based on current arena deal (unless new arena is pending).

2. Net of arena revenues used for debt payments.

3. Earnings before interest, taxes, depreciation and amortization.

5. Includes benefits and bonuses.

7. Compares the number of wins per player payroll relative to the rest of the NHL. Playoff wins count twice as much as regular season wins. A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average during the 2017-18 season.